Save Booster Quest (“Campaign”)
From 28 August 2024 to 31 December 2024
Terms & Conditions
Save Booster Quest (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) and shall be subjected to the terms and conditions herein (“Terms and Conditions”).
NB: The Campaign here is one of the available campaigns under Versa’s new feature called Versa Quest. The campaign rewards under these campaigns are stackable. For further information on the other available campaigns, please visit [https://versa.com.my/stack-and-earn-more-more-than-6-pa-nett-returns-with-versa-quests/].
1. Eligibility:
1.1 This Campaign is open to all new or existing Versa application users holding a Malaysian citizenship and aged eighteen (18) and above as at the commencement of the Campaign Period (as defined below) (“Users” or individually “User”), subject to the Terms and Conditions herein.
1.2 To participate in this Campaign, Users must own a duly verified and approved Versa account, with a minimum balance of RM1,000.00 in their respective Versa Cash or Versa Cash-i account, to be maintained throughout the Campaign Period (as defined below).
1.3 In the event that a User is found or suspected to have committed any fraudulent, unlawful, prejudicial and/or wrongful acts in relation to this Campaign or to the financial product(s) by Versa, or has breached the Terms and Conditions herein, or has been declared bankrupt, or is subject to any bankruptcy proceedings, at any point of time prior, during or after the Campaign Period (as defined below), Versa has the right at its sole and absolute discretion to disqualify the said User and/or to immediately cancel, withdraw or recall any rewards or returns awarded to the User pursuant to this Campaign. Users hereby agree and undertake to fully indemnify Versa for the value and costs of such units & incentives, damages and/or losses (if any) arising therefrom. Versa shall have the right to initiate any action it deems necessary against Users.
2. Campaign Period and Details:
2.1 The Campaign will commence on 28 August 2024, 00:01hr (Malaysian time) and end on 31 December 2024, 23:59hr (Malaysian time) (“Campaign Period”).
2.2 Versa reserves its absolute right and discretion to vary or amend the Campaign Period at any time in accordance with Clause 5.5(d) below.
3. Campaign Mechanics and Conditions:
3.1 To be eligible for the Campaign Rewards (as defined below):
a. a User must own a verified and approved Versa account with a minimum balance of RM1,000.00 in their respective Versa Cash or Versa Cash-i Fund to be maintained throughout the Campaign Period; and
b. a User must, within the Campaign Period, have auto debit plan(s) set up to enable auto debit monthly transaction(s) of a total cumulative minimum of RM300.00 fund into specific Versa Save Funds (as defined below) and
c. The User’s auto debit transaction(s) pursuant to his/her auto debit plan(s) above is successfully auto debit on the 5th day of every month (“Auto Debit Transaction Date”) into the intended Versa Save Fund(s). If the 5th day of the month falls on a weekend or public holiday, then the Auto Debit Transaction Date will fall on the next business day.
(Versa Save Funds refer to Versa Cash and/or Versa Cash-i, as the case may be)
3.2 For the avoidance of doubt, Users may set up multiple auto debit plans for one or more Versa Save Funds. However, Users must ensure that the total cumulative auto debit transaction(s) pursuant to their auto debit plans achieves the minimum requirement of RM300.00.
3.3 Users are advised to set up the auto debit plan by the cut off time of every month (as specified in the table below) to enable the auto debit transaction(s) on the Auto Debit Transaction Date, i.e. the 5th day of the immediate subsequent month (or the next business day if it falls on a weekend or public holiday). Where the auto debit plan is set up after the cut off time of every month, the auto debit transaction(s) will only occur on the following Auto Debit Transaction Date, i.e. the 5th day of the third month from the auto debit setting up month.
| User’s Auto Debit Plan Set Up Date | Auto Debit Transaction Cut Off Time | Auto Debit Transaction Date |
| 26 July 2024 – 28 August 2024 | 28 August 2024, 3pm | 5 September 2024 |
| 28 August 2024 – 27 September 2024 | 27 September 2024, 3pm | 7 October 2024 (5 October 2024 and 6 October 2024 are weekends) |
| 27 September 2024 – 25 October 2024 | 25 October 2024, 3pm | 5 November 2024 |
| 25 October 2024 – 27 November 2024 | 27 November 2024, 3pm | 5 December 2024 |
3.4 Users will receive rewards for the month(s) in which the auto debit transaction(s) is successfully processed, completed and invested into the intended Versa Save Fund(s).
4. Campaign Rewards:
4.1 All eligible Users who successfully fulfill the Campaign Mechanics and Conditions stated in Clause 3 above will enjoy the booster rewards (as listed below) in addition to the prevailing base nett return of Versa Cash or Versa Cash-i (as the case may be) of the particular month (collectively referred to as the “Campaign Reward”) during the Campaign Period, in the following manner:
a. Where a User sets up auto debit plan(s) for a cumulative total amount between RM300.00 to RM599.99 into any Versa Save fund, the Campaign Reward will be 0.3% p.a. nett returns on the User’s first available balance of RM10,000.00 in his/her Versa Cash or Versa Cash-i; or
b. Where a User sets up auto debit plan(s) for a cumulative total amount between RM600.00 and above into any Versa Save fund, the Campaign Reward will be 0.6% p.a. nett returns on the User’s first available balance of RM10,000.00 in his/her Versa Cash or Versa Cash-i.
4.2 For the avoidance of doubt, where a User has both Versa Cash and Versa Cash-i fund, the Campaign Reward will only be applicable to the User’s Versa Cash or Versa Cash-i fund, whichever with the higher available balance as at the last day of the eligible month during the Campaign Period. Where both the Versa Cash and Versa Cash-i have the same available balance, Versa Cash will be the default rewarded account.
4.3 The Campaign Reward will be applied to the first 30,000 User(s) who are eligible for the Campaign Reward in accordance with the Terms and Conditions on a first-come first-serve basis. In the event the total Campaign Reward has been fully utilised, User(s) will be rewarded the prevailing Versa Cash or Versa Cash-i promotional or base rate. A public announcement will be made once via Versa’s official pages (versa.com.my), as well as via Versa’s Push Notification, App Inbox and Email.
4.4 The Campaign Reward will be credited to the Users’ respective Versa Cash or Versa Cash-i account (as the case may be) in the following month after the auto debit transaction has taken place.
4.5 The following is a calculation illustration of the Campaign Reward:
| Auto Debit Amount | Type of Versa Fund | Prevailing Base Nett Return | Booster Rewards | Campaign Reward |
| RM300.00 – RM599.99 into any Versa Save fund | Versa Cash (First RM10,000.00) | 4.04% p.a. nett (based on historical performance in July 2024) | 0.3% p.a. nett return | 4.04% p.a. nett + 0.3% p.a. nett= 4.34% p.a. nett |
| OR | ||||
| RM300.00 – RM599.99 into any Versa Save fund | Versa Cash-i (First RM10,000.00) | 3.41% p.a. nett (based on historical performance in July 2024) | 0.3% p.a. nett return | 3.41% p.a. nett + 0.3% p.a. nett= 3.71% p.a. nett |
| OR | ||||
| RM600.00 and above | Versa Cash (First RM10,000.00) | 4.04% p.a. nett (based on historical performance in July 2024) | 0.6% p.a. nett return | 4.04% p.a. nett + 0.6% p.a. nett= 4.64% p.a. nett |
| OR | ||||
| RM600.00 and above | Versa Cash-i (First RM10,000.00 ) | 3.41% p.a. nett (based on historical performance in July 2024) | 0.6% p.a. nett return | 3.41% p.a. nett + 0.6% p.a. nett= 4.01% p.a. nett |
4.6 Users, who make a cash-out from their Versa Cash or Versa Cash-i during the Campaign Period that results in the account balance therein falling below the requisite minimum of RM1,000.00, will be automatically disqualified for the Campaign Reward. Such Users will only enjoy the Campaign Reward up to the date of the withdrawal request.
4.7 Sample scenarios are illustrated as below:
| No | Scenarios | Eligibility |
| 1 | Ali is an existing auto debit user. He created an auto debit plan of RM300.00 into Versa Cash on 8 March 2024. Every 5th* day of the month, RM300.00 is successfully auto debited into his Versa Cash fund. His Versa Cash balance is RM15,000.00 while his Versa Cash-i balance is RM10,000.00. | Ali is eligible for the Campaign Reward. He will receive the booster rewards of 0.3% p.a. nett return on his first RM10,000.00 Versa Cash balance (as he has a higher balance in his Versa Cash than his Versa Cash-i fund) in addition to the prevailing base nett return of Versa Cash, during the Campaign Period. For his subsequent RM5,000.00 Versa Cash balance, he will continue to enjoy the base nett return rate. His first Campaign Reward will be for the month of October 2024 and it will be credited in his Versa Cash in November 2024. |
| 2 | Ameera is an existing auto debit user. She created an auto debit plan of RM600.00 into Versa Cash-i on 15 May 2024. Every 5th* day of the month, RM600.00 is successfully auto debited into her Versa Cash-i fund. Her Versa Cash-i balance is RM5,000.00 but she does not have any balance in her Versa Cash. | Ameera is eligible for the Campaign Reward. She will receive the booster rewards of 0.6% p.a. nett return in addition to the prevailing base nett return on her Versa Cash-i balance of RM5,000.00 (or other amount within the first RM10,000.00 balance) during the Campaign Period. She may increase her Versa Cash-i balance to RM10,000.00 during the Campaign Period to maximise her rewards. Her first Campaign Reward will be for the month of October 2024 and it will be credited in her Versa Cash in November 2024. |
| 3 | Boon creates an auto debit of RM700.00 into Versa Cash on 19 September 2024. On the 5th* day of the next month (October 2024), RM700.00 is successfully auto debited into his Versa Cash fund. He has a balance of RM30,000.00 in his Versa Cash and have no balance in his Versa Cash-i. | Boon is eligible for the Campaign Reward. He will receive the booster rewards of 0.6% p.a. nett return in addition to the prevailing base nett return on his first RM10,000.00 of his Versa Cash balance starting from 1 October 2024 through October 2024. For his subsequent RM20,000.00 Versa Cash balance, he will continue to enjoy the base nett return rate. His Campaign Reward will be credited into his Versa Cash account in November 2024. |
| 4 | Beth creates an auto debit plan of RM300.00 into Versa Cash on 15 September 2024. On the 5th* day of the next month (October 2024), RM300.00 is successfully auto debited into her Versa Cash fund. She has a balance of RM2,000.00 in her Versa Cash from 1 October 2024 to 14 October 2024. On 15 October 2024, she cashes in RM8,000.00 into Versa Cash fund and the total available balance of RM10,000.00 in her Versa Cash is reflected on 17 October 2024. | Beth is eligible for the Campaign Reward. She will receive the booster rewards of 0.3% p.a. nett return in addition to the prevailing base nett return on her daily available balance from 1 October 2024 to 16 October 2024. She will receive the booster reward of 0.3% p.a. nett return in addition to the prevailing base nett return on her first RM10,000 Versa Cash balance, starting from 17 October 2024 until end of October 2024. Her Campaign Reward will be credited into her Versa Cash account in November 2024. |
| 5 | Chester creates an auto debit plan of RM300.00 into Versa Cash on 10 September 2024. On the 5th* day of the next month (October 2024), RM300.00 is successfully auto debited into his Versa Cash fund. He has a balance of RM2,000.00 in his Versa Cash that he maintains throughout October 2024. He also cashes in RM10,000.00 into Versa Cash-i and this amount is reflected on 5 October 2024 and he maintains the said amount in Versa Cash-i throughout October 2024. | Chester is eligible for the Campaign Reward. He will receive the booster rewards of 0.3% p.a. nett return in addition to the prevailing base nett return on his RM10,000.00 Versa Cash-i balance (which is higher compared to his Versa Cash) starting from 5 October 2024 throughout October 2024. His Campaign Reward will be credited into his Versa Cash-i account in November 2024. |
| 6 | On 10 October 2024, Carla creates auto debit plans of RM200.00 into her Versa Cash fund and RM200.00 into her Versa Cash-i fund. On the 5th* day of the next month (November 2024), RM200.00 is successfully auto debited into each of her Versa Cash and Versa Cash-i fund, making a total culmulative auto debit transaction of RM400.00. She has RM20,000.00 in her Versa Cash account throughout November 2024. | Carla is eligible for the Campaign Reward. She will receive the booster rewards of 0.3% p.a. nett return in addition to the prevailing base nett return on her first RM10,000.00 of her Versa Cash balance starting from 1 November 2024 throughout November 2024. For her subsequent RM10,000.00 Versa Cash balance, she will continue to enjoy the base net return rate. Her Campaign Reward will be credited into her Versa Cash account in December 2024. |
| 7 | Dani creates an auto debit plan of RM200.00 into Versa Cash-i on 20 November 2024. | Dani is not eligible for the Campaign Reward as she did not meet the minimum auto debit amount for his Versa Cash-i fund. |
| 8 | Dora makes a manual cash in of RM500.00 into Versa Cash-i every month since June 2024. | Dora is not eligible for the Campaign Reward as she did not utilise the auto debit feature to create an auto debit plan. |
| 9 | Elias creates an auto debit plan of RM800.00 into Versa Cash on 10 September 2024. On the 5th* day of the next month (October 2024), RM800.00 was not successfully auto debited into his Versa Cash fund due to insufficient funds in his bank account. The RM800.00 is successfully auto debited on the 5th* day of November 2024. Throughout the Campaign Period, he has RM10,000.00 balance in his Versa Cash but none in his Versa Cash-i account. | Elias is not eligible for the Campaign Reward in the month of October 2024 as he did not successfully transact RM800 into his Versa Cash account. He is only eligible for the booster reward of 0.6% p.a. nett return in addition to the prevailing base nett return on his RM10,000 Versa Cash balance starting 1 November 2024 during the Campaign Period. His Campaign Reward will be credited into his Versa Cash account in December 2024. |
| 10 | Firdaus creates an auto debit plan of RM400.00 into Versa Cash-i on 20 October 2024. On the 5th* day of the next month (November 2024), RM400.00 is successfully auto debited into his Versa Cash-i fund. He has RM10,000.00 in Versa Cash and RM10,000.00 in Versa Cash-i on 31 May 2024. | Firdaus is eligible for the Campaign Reward. He will receive the booster rewards of 0.3% p.a. nett return in addition to the prevailing base nett return on his first RM10,000 in his Versa Cash account. Versa Cash will be the default rewarded account in the scenario where both Versa Cash and Versa Cash-i have the same available balance. His Campaign Reward will be credited into his Versa Cash account in December 2024. |
| 11 | Farah creates an auto debit plan of RM400.00 into Versa Cash-i on 19 September 2024. On the 5th* day of the next month (October 2024), RM400.00 is successfully auto debited into her Versa Cash-i fund. On 10 October 2024, she decided to increase her auto debit plan to RM600.00 into Versa Cash-i. On the 5th* day of the next month (November 2024), RM600.00 is successfully auto debited into her Versa Cash-i fund. She has RM10,000.00 in her Versa Cash-i throughout the Campaign Period. | Farah is eligible for the Campaign Reward. She will receive the booster rewards of 0.3% p.a. nett return in addition to the prevailing base nett return on her first RM10,000.00 of her Versa Cash-i balance starting from 1 October 2024 throughout the month of October 2024. This Campaign Reward will be credited into her Versa Cash-i account in November 2024. In the next month, Farah will receive the booster rewards of 0.6% p.a. nett return in addition to the prevailing base nett return on her first RM10,000.00 of her Versa Cash-i balance starting from 1 November 2024 throughout the month of November 2024. This Campaign Reward will be credited into her Versa Cash-i account in December 2024. |
*If the 5th day of the month falls on a weekend or public holiday, then the Auto Debit Transaction Date will fall on the next business day.
5. Miscellaneous:
5.1 All cash-in made by Users via any Third-Party Account will not be eligible for this Campaign and all Campaign Rewards given (if any) will be forfeited. For the avoidance of doubt, a Third-Party Account includes any corporate bank accounts, joint accounts and other accounts that are not in the sole name of the User him/herself.
5.2 Users warrant and represent that:
a. the users are the lawful and authorised holders of the debit card bank account used for setting up the auto debit plan; and
b. all information submitted to Versa in connection with auto debit plan is true and correct;
5.3 The Users’ account must be active when Versa credits the Campaign Reward(s). Versa reserves the right to cancel, void and/or forfeit the Campaign Reward(s) notwithstanding the same has been credited in the event the User’s Versa account(s) becomes dormant or inactive.
5.4 Without limiting the generality of any provision in the Terms and Conditions herein, by participating in this Campaign, Users expressly agree:
a. that Users have read, understood, fully and unconditionally agree and accept all the Terms and Conditions herein;
b. that the decisions of Versa on all matters relating to or in connection to this Campaign (including but not limited to the type and amount of Campaign Reward(s) to be awarded) are final, conclusive and binding on the Users. No queries, appeals, disputes, or correspondences will be entertained by Versa;
c. agree to access Versa’s official website at https://versa.com.my/ on a regular basis to view the Terms and Conditions of this Campaign and ensure to be kept up-to-date on the latest Terms and Conditions of this Campaign. Users shall seek clarification from Versa should any of the Terms and Conditions be not fully understood;
d. that Users are liable and shall personally bear all applicable taxes, rates, governments fees or any other changes that may be levied against the Users under the applicable laws, if any, in relation to their participation in this Campaign;
e. that Versa shall not be held responsible or liable for loss of profit, loss of revenue, loss of opportunity, consequential losses, and expenses of whatsoever nature suffered or incurred by the Users and/or any other third party resulting from, or arising out of, or in connection with this Campaign or the Campaign Rewards awarded under this Campaign; and
f. that Users shall hold harmless, defend and fully indemnify Versa from and against all losses, damages, liabilities, expenses (including reasonable legal costs and expenses), and all third-party actions, proceedings, claims, demands, costs, awards and damages, resulting from or arising out of or in connection with the Users’ acts or omissions in relation to this Campaign.
5.5 Versa further reserves the right:
a. to make further verifications of Users and request for further personal identification details and/or documents of Users;
b. to disqualify or withdraw the Users’ eligibility for the Campaign Reward(s) at any time, including the period after the Campaign Reward has been awarded to the User, should there be any non-compliance with the agreed Terms and Conditions;
c. to amend, vary, modify, add and/or delete any of the Terms and Conditions herein (including but not limited to the Campaign Period and Campaign Reward(s)) from time to time, in its sole and absolute discretion, as shall be notified by Versa on its official website at https://versa.com.my/, which shall be taken as good notice. The latest Terms and Conditions can be found on Versa’s official website as aforementioned. Further, the Users’ continued participation in this Campaign following any such amendment, variation, modification, addition and/or deletion shall constitute unconditional acknowledgement, understanding, agreement, and unqualified acceptance of the same in respect of the latest Terms and Conditions.
d. to cancel, shorten, extend, suspend or terminate this Campaign, in whole or in part, at any time prior to the expiry of the Campaign Period, as shall be notified by Versa on its official website at https://versa.com.my/. For the avoidance of doubt, any cancellation, shortening, suspension or termination of the Campaign at any time prior to the expiry of the Campaign Period shall not entitle the Users or any other persons to any claim or compensation whatsoever against Versa for any losses or damages (including but not limited to any losses of accrued Campaign Reward(s)) howsoever suffered or incurred as a direct or indirect result of such act of cancellation, shortening, suspension or termination, whether or not Versa has been advised of the possibility of such losses or damages; and
e. to not publicly disclose any calculations or formula regarding the Campaign Reward(s).
5.6 Versa shall not be responsible or held liable in respect of any technical failures of any kind whatsoever, intervention, interruption and/or electronic or human errors in (a) the administration and/or processing the relevant transactions; (b) the implementation of this Campaign; and/or (c) the determination of the Users’ eligibility for the Campaign Reward(s).
5.7 Versa shall not be responsible or held liable for any default of its obligations in relation to this Campaign due to any force majeure events which include but not limited to acts of God, insurrection or civil disorders, acts of war, strikes, riots, lockdowns, pandemic, epidemic, movement control order, fire, flood, storm, drought, change of law and/or regulation, cyber attack, digital hack or digital security breach by unauthorised parties, and other events and/or circumstances of whatever nature beyond the reasonable control of Versa.
5.8 The Terms and Conditions herein shall be governed by and construed in accordance with the laws of Malaysia, and shall prevail over any provisions or representations contained in any brochure or other promotional materials advertised under this Campaign.
5.9 Versa is the final authority to decide on the interpretation and/or implementation of the Terms and Conditions herein and as to any other ancillary matters relating to this Campaign.
6. Personal Data:
6.1 By participating in this Campaign, Users warrant that all information, details and statements are true, correct, accurate and complete.
6.2 By participating in this Campaign, Users are deemed to have freely and voluntarily agreed and consented to the collection, processing, use, disclosure and retention by Versa of their personal data in the manner as set out in the Personal Data Notice given at https://versa.com.my/privacy-notice/.